Piracy
Communism is failing (like it always has) and Venezuela’s state owned oil company couldn’t make payments to suppliers and a US firm that operated there. So, like good little commies, Venezuela is going to seize the rigs. And, in the other fine commie tradition that got them into this mess, nationalize them
A government seizing property of a US company over a dispute involving them not paying? Personally, I think a couple of US destroyers should be parked next to the rigs.
June 24th, 2010 at 12:02 pm
Nah, they don’t believe in personal property and we wouldn’t want to “offend” them….
June 24th, 2010 at 12:18 pm
Why would Obama want to offend his fellow traveler? I mean, they’re only oil wells owned by evil big oil.
June 24th, 2010 at 12:40 pm
Heh, except I’m almost positive they’re land rigs. The article you linked to mentions they’re in the Venezuelan state of Anzoátegui. More importantly, Helmerich Payne only has 9 offshore rigs. So it would be pretty silly to try to park 2 US destroyers next to them.
June 24th, 2010 at 12:41 pm
could be.
June 24th, 2010 at 12:44 pm
Obama will probably attend the deed signing party celebrating the transfer of ownership to the State…
June 24th, 2010 at 12:55 pm
Obama’s loud medial blandishments and berating have caused BP to consider filing bankruptcy protection. What they don’t know is that it won’t help (except to bring Britain’s financial markets to collapse which is a good-Marxist crisis-generating outcome). Like Venezuela’s nationalizing and
GeneralGovernment Motors, they will be assimilated and converted into Gubb’mint payoff slush-funds for the Commentariat and Apparatchiks.Obama is like the ATF, he’s always thinking forfeiture.
June 24th, 2010 at 1:50 pm
Maybe if Obama does his usual “bow-and-apologize” routine enough, they won’t grab the rigs.
June 24th, 2010 at 2:08 pm
How does one “hide” an oil rig? I mean, yes, I know we disguised entire aircraft factories during WWII, but still…
June 24th, 2010 at 3:49 pm
Jeff,
We dug one Canal in a banana republic to move our fleet, we can build another.
Quick, get me zombie TR!
June 24th, 2010 at 5:53 pm
“…I think a couple of US destroyers should be parked next to the rigs.”
That, and/or a couple of u-boats. One attack sub, and one boomer parked off the South American coast for good measure. But then, that wouldn’t be peaceful or tolerant, would it?
June 24th, 2010 at 6:28 pm
It’s scary that I’m currently reading “Atlas Shrugged”…the Mexican government nationalized an American railroad while the American government put caps on the amount of metal and oil that could be created or extracted, in the name of ‘social responsibility’.
Ayn Rand foretold in the 1930s what life in America would be like today.
June 24th, 2010 at 10:42 pm
most US drilling contractors got their decent land rigs and other assets out a long time ago. The ones that are left are probably insured for the cost a nice new one, and will result in a net gain for both parties.
June 24th, 2010 at 11:53 pm
So a Commie plans on illegally seizing property? Didn’t the Kim family of North Korea do something like that 60 years ago on 25 June, 1950? Of course, back then we had a President who decided to do something about it, but today you have a guy who was proud to announce that he was happen to sell CHICKEN to the Russians in exchange for them selling S-300 SAM’s to Iran, thus making the Israelis job of taking out TRUE EVIL much more difficult. But hey, in honor of the courage and sacrifices of the Korean War Veteran, BHO decided to fire another General to APPEASE the same miserable Communist STATE DEPARTMENT that NEVER lets the U.S. WIN a war!
June 24th, 2010 at 11:54 pm
So it would be pretty silly to try to park 2 US destroyers next to them.
But, doing so would be soooo freakin’ impressive…..
June 25th, 2010 at 1:35 am
I’m hoping Bubblehead is a troll, but fear they’re completely serious.
June 25th, 2010 at 2:06 am
I can’t get behind the notion of going to war to protect someone’s high risk investments overseas. This ain’t the same as an act of high-seas piracy, where it is the responsibility of the flag country to protect their merchants.
You put capital into some third world socialist craphole, then you accept the risk that some cleptocrat will grab it.
Rignerd: Most insurance companies will not insure against government acts.
I’m sure that everyone else in that hole is thinking really hard about pulling the plug right now.
June 25th, 2010 at 8:52 am
Venezuelan seizures are a cyclical thing, Chavez or not. I think Sun had its assets taken three different times, starting in the early 60’s. When you start to think of nationalization as a “cost of doing business,” well, you’re in the wrong business.
Ashley, I’m with you on this, but AS was written in the 50’s.
June 25th, 2010 at 9:38 am
Sigh.
You just can’t send HMS Thunderer to shoot up the wogs like you could in the good ol’ days.
“Whatever happens, we have got
The Maxim gun, and they have not.“
June 25th, 2010 at 10:30 am
Maybe Chavez will hold off if Paul McCartney does a concert for him?
Personally, I think Helmerich & Payne should just destroy as much of each rig as possible, as quietly as possible, and let Chavez nationalize a bunch of junk.
June 25th, 2010 at 3:27 pm
Not to worry, they’ll be junk in no time. I was raised in that country … “maintenance” is something that is done after things have seized up & I swear they could destroy an anvil with their bare hands.
June 25th, 2010 at 10:05 pm
@bobg: http://www.impsec.org/~jhardin/politics/2008/Obama_Apologize_thumb.jpg
June 27th, 2010 at 9:06 am
Nuke the sonsofbitches and move on.